Create an income statement for the month of July

DEPOSITS 12,000 4.000 Lahwn's Lawn Service Check Register CHECKS 5/5/2020 From Savings Deposit Macatawa Bank Truck Loan 6% Int - 36 payments @ 125/mo 5/6/2020 Gord's Ford Buy used truck 8,400 5/6/2020 State of MI License 180 5/6/2020 State Farm Auto Ins. - 1 yr premium 480 5/6/2020 State Farm Liability Ins. - 1 yr premium 600 5/6/2020 Tractor Supply New Trailer 1.440 5/6/2020 State of MI License 35 5/8/2020 Sparta Distributing 50% Down payment- Riding mower 5/10/2020 Van's Feed and Seed Lawn Fertilizer 500 5/10/2020 Sparta Distributing Leaf blower 175 5/10/2020 Macatawa Bank Debit for checks 10 5/15/2020 GR Press Monthly Ad 90 5/31/2020 Macatawa Bank Truck Loan Payment 125 5/31/2020 Hardwhere Hardware Paid Bill to Hardware store for small to 85 13,370 BALANCE 12,000 16,000 7,600 7,420 6,940 6,340 4.900 4,865 3,615 3,115 2,940 2.930 2,840 2,715 2,630 1.250 16,000 200 300 150 2,000 1,250 2,830 3,130 3,280 5.280 4,030 4,230 3,945 5,145 4,545 200 285 1,200 6/5/2020 Al Bert Lawn Fees - June 6/10/2020 Bob Bee Clean Up - May 6/11/2020 Carl Lee Lawn Fees - June 6/11/2020 Transfer from Personal Savings 6/11/2020 Sparta Distributing Balance on Riding Lawn Mower 6/15/2020 Dan Dhee Lawn fees - June 6/15/2020 Lindsey Lawhn Jr Wages 6/15/2020 Forest Lawn Apts Clean Up - May 6/15/2020 Van's Feed and Seed Chemicals 6/15/2020 Mark's Mobil Fuel - May 6/15/2020 Sparta Distributing Areator 6/15/2020 Ed Ward Lawn Fees - June 6/15/2020 GR Press Monthly Ad 6/20/2020 Klein Plastics Clean Up - May 6/30/2020 Macatawa Bank Truck Payment 6/30/2020 Lindsey Lawhn Jr Wages 6/30/2020 IRS Fed With Holding 6/30/2020 State Of MI State Withholding 6/30/2020 IRS FICA 6/30/2020 State Of MI SUTA 6/30/2020 IRS FUTA 600 160 675 4,385 150 90 750 125 285 160 20 99 20 4 3,774 3,710 3,860 3,770 4.520 4.395 4.110 3,950 3,930 3,830 3,810 3,806 4,950 750 500 200 125 300 150 200 60 285 Wages 1,800 220 7/1/2020 Van's Feed and Seed Lawn Fertilizer 7/14/2020 Cash Draw 7/5/2020 Al Bert Lawn Fees - July 7/6/2020 ATT Phone and service 7/10/2020 Bob Bee Lawn Fees June 7/12/2020 Carl Lee Lawn Fees - July 7/15/2020 Dan Dhee Lawn fees - July 7/15/2020 Van's Feed and Seed Spreader 7/15/2020 Lindsey Lawhn Jr 7/15/2020 Forest Lawn Apts Lawn Fees - June 6/15/2020 Mark's Mobil Fuel - June 7/15/2020 Ed Ward Lawn Fees - June 7/15/2020 Frank Lee Lawn Fees - July 7/18/2020 GR Press Ad 7/20/2020 Klein Plastics Lawn Fees - June 7/31/2020 Macatawa Bank Truck Payment 7/31/2020 Gord Den Bark Spread and Lawn Repair 7/31/2020 Lindsey Lawhn Jr Wages 7/31/2020 IRS Fed With Holding 7/31/2020 State Of MI State Withholding 7/31/2020 IRS FICA 7/31/2020 State Of MI SUTA 7/31/2020 IRS FUTA 150 200 3,056 2,556 2,756 2,631 2,931 3,081 3,281 3,221 2,936 4,736 4,516 4,666 4,866 4.776 5,276 5,151 6,051 5,766 5,606 5,586 5,487 5,467 5,463 90 500 125 900 285 160 20 99 20 4 2.744 4,400 You are asked by Lindsey Lahwn to prepare monthly Statements of Financial Position and Income Statements in good form so she can take them to her bank to secure an additional loan for buying an addition truck and trailer. Assume Ms. Lahwn operates on a calendar year. She has heard that accounting on an accrual basis is what the bank wishes to see. It may be wise to note some of your assumptions as you make decisions as to "what you want it to be". 3,000 Some additional information Mr. Lawhn provides: The fees for services performed in July yet unpaid at 07/31/20 were Invoices received not yet paid on 07/31/20 Marks Moble - Gas and Oil Van's Feed and Seed - Insecticide 260 130